Baltic ports management merger

Kvarkenhamnar will be owned 50/50 by the founders who will contribute with US$2.25m each to the share capital.

The ports’ current staff will be employed in the new company and Kvarkenhamnar’s board of directors will be equally split between Umeå and Vaasa.

The new entity will focus on port authority functions and complementary services such as warehousing and passenger services since the Wasaline ferry company, which offers a ro-pax route between the two ports.

There is a port merger trend in the Baltic Sea region. Last year, Halmstad and Varberg became the Port of Halland and similar undertakings have happened at Stockholm, Copenhagen’s Malmö Port, HaminaKotka, Mälarhamnar and ports surrounding Lake Vanern.